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United Investors Group International (UIGI) – scam or legit?

Lilit Chichyan
By Lilit Chichyan 3 Min Read
image from uigicoin.com

YEREVAN (CoinChapter.com) – The crypto market can be volatile and unpredictable. Thus, many seek reassurance on their financial decisions. United Investors Group International (UIGI) is an organization that claims to bring like-minded people together and reach a “debt-free lifestyle” through learning from other participants’ experiences. But the project is not as reassuring.

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UIGI.io exhibits red flags.UIGI coin

UIGI.io exhibits red flags.

Any trader, especially inexperienced, should have a scam radar active regarding such claims. Unfortunately, the information available on the team mainly comes from the UIGI.io website or promotional articles, despite the project being live since Q4 2021.

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is uigi a scam?
UIGI roadmap. Source: uigicoin.com

Thus, getting an impartial opinion is not trivial. A centralized information source should be a red flag for anyone considering participation or an investment.

Also read: Solana (SOL) Price Approaches $50, Why Dips Remain Attractive.

The website also claims to offer a low-risk/high-reward investment opportunity, which is always a red flag, especially in the crypto community. After Terra’s implosion and several platforms like 3AC, and Celsius following suit, investors should be aware of the potential pitfalls.

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“Don’t play with money you can’t afford to lose,”- advertises the community. And while any investor with common sense swears by that principle, it cancels out the possibility of a low-risk/high-reward investment for an average trader. The suggestion that the latter is possible drags a fat warning over all other claims.

Also read: Emerging markets strain under pressure; can crypto adoption pare the losses?

Meanwhile, the UIGI coin also has a fishy centralized nature.

UIGI coin

The UIGI coin reached a peak of $0.012 in Nov. 2021, then gradually declined and stood at $0.0018 on July 19. According to the roadmap above, the project is aimed at a CoinMarketCap listing in Q4 2021. However, the coin tracker has not listed the coin as of July 2022.

UIGI price action. Source: poocoin.app
UIGI price action. Source: poocoin.app

Moreover, the coin tracker BSCScan revealed that five wallets own over 40% of the total UIGI coin supply, which constitutes another red flag for potential investors.

UIGI coin destribution. Source: BSCScan.com
UIGI coin destribution. Source: BSCScan.com

Also read: Three Arrows Capital co-founder files $5M claim against own firm.

In conclusion, the UIGI social club emphasizes a debt-free lifestyle. However, the platform contradicts its principles by raising unrealistic expectations. UIGI.io might not be a scam per se, but proceeding with caution is recommended.

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Meanwhile, basic financial literacy, combined with a healthy dose of skepticism, should eliminate the need for UIGI.

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Lilit Chichyan

Lilit is a Yerevan-based Markets writer, skilled in 3 languages, and interested in writing about the tech world, trading, art, and science. She also has a background in psychology and marketing, which helps deliver the right message to the target audience.

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